The CNX Small Cap index is predicted to reach 19,000 based on an inverted head and shoulders pattern breakout.
"So if I want to just you know extend this. So you can see this dotted line right? It has to go past this and this is coming to around 19,000. Okay, it has to go past the 19,000 level."
Potential US rate cuts in October and December could significantly boost Indian markets. If US inflation is within expectations, rate cuts are likely.
"If the interest rates are within the thought process of their you know Fed then in that case there'll be great chances that in the October month itself there could be a potential rate cut. So there are two more key Fed meetings as far as rate cuts are concerned. One in the month of October, one in the month of December. And if in both these months if we see a rate cut in the USA of course we also get a big scope for rate cuts and does that give a big boost to our markets answer is obviously yes."
E-commerce sales data after major festivals like Navratri will indicate consumer spending sentiment and whether GST rate cuts have boosted discretionary spending.
"So typically after the sale is over all these big e-commerce giants display some numbers that we hit a turnover milestone of XY Z or they would say that XY Z number of visitors visited us during the sale and with that we just get to know that with the GST red cut were we able to some push in the consumer discretionary spending space or not."
Auto sales numbers released on the first of every month will provide insight into consumer spending trends post-GST rate cuts.
"In the next month we should also come up with the auto numbers on the first of every month that is coming witness day. Auto numbers will also be published that can definitely tell us the overall mood that post GST rate cut did people really go and spend on autos or not."
Gold and silver are expected to remain strong due to increasing uncertainties, with no indicators suggesting a crash.
"Is it going to crash? O doesn't show any signs as of now going strong. Be it gold, be it silver and with more and more uncertainties, it crashing like anything doesn't give I mean no no specific no indicators per se right now."
